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No, the OP certainly does not get the fill. That's the whole issue. OP was willing to display his order and participate in the price discovery process. He gets front run by an institution who takes no risk and doesn't participate in price discovery. In doing so the retail client who got the...

Not quite sure I understand the question.

Correct, they never really enter an order...it's just an immediate internal fill. Their algo determines if they internalize or route out, and how much to internalize if so.

OP clearly was sub pennied by internalized order flow from a retail seller. Eg, a retail Schwab customer enters sell order and Schwab scoops it up for .0001 better than best bid (OP). This happens all day, every day. I'm a believer that the playing field should be the same for all market...

That post was probably referring to hedge funds. Top retail/prop traders make many multiples of that.

All that really matters imo is cps (cents per share). profit/volume eg. $1000/100000=.01 Anything over .02 for sustained time is really good.

Here's a nice example today of massive quote stuffing in PRSS. There were 80k quotes in 5 seconds. PRSS hardly trades so these guys were slowing quotes in other stocks on the same server to gain advantage over other hft's. This is quote manipulation in it's finest, the SEC just doesn't have...

Access to HFT's? What do you mean? Dark routes? What does your company do? People here have reading comprehension issues. I've been a manual and partial auto trader for many years. I make a good living at this. You defending quote stuffing is absurd to me. I have no problems with...

When did I ever say price discovery is bad? Creating latency opportunities by stuffing the pipes is what I have a problem with.

Whether they are able to use their quote source in that manner, or just tell their own servers not to process the data that they stuff down the pipe to everyone else...I don't know. Excerpt from zerohedge: "Competition between HFT systems today has reached the point where microseconds...

How do you know HFT can't stuff the pipe and remove the quote in their own feed allowing for latency arb? I think they do this all the time. I think on this thread there's a bit of confusion between algo's and HFT. Imo the algo's that have replaced the human do directly affect our...

I'm finding new niches all the time, but find they come and go quicker. Like I said, there's ways to make money, but overall we'd all be better off in the market of the 90's.

I have to disagree. Trading has clearly changed, although most <5 year traders here wouldn't know it. I can guarantee if you bring back fractions and Grasso we would all make more money. These algo's take all the low lying fruit. Of course there's ways to make money still, but the golden...

They are simply testing message rates. There is a ceiling by the exchanges that is always being raised, so HFT's are always testing their limits. They have to choose an instrument to do so, and today it was this one.

http://market-topology.com/

Yes I had this problem. It was never resolved. http://www.elitetrader.com/vb/showthread.php?s=&threadid=221883

Volume...

T-Shirts and Mugs! edit: and hats!

Hey SF, There's a few thoughts I had reading your journal. I'm in the East Bay btw. 1. Being new to this, you don't have the benefit of hindsight and experience to know when a market is good or bad for trading. For <u>equity traders</u> this market is terrible. No liquidity, no *real*...

Most charting packages have scanners, or you can get something like Trade-Ideas.